The Intangible Assets tab is designed to account for and track non-physical assets of a business. These could include intellectual property rights, patents, licenses, or goodwill. In this tab, users can input detailed information about each intangible asset, monitor its amortization, and keep track of its book value over time.
New Intangible Asset
To create new intangible asset, click New Intangible Asset button.
By default, you will see the following columns:
|Name||Description||Acquisition cost||Amortization||Book value||Status|
|Name||Name of Intangible Asset|
|Description||Description of Intangible Asset|
|Acquisition cost||This is sum of all transactions allocated to this Intangible Asset|
|Amortization||This is sum of all Amortization Entries allocated to this Intangible Asset|
|Book value||This is Acquisition cost minus Amortization|
|Status||Indicates whether Intangible Asset is active or disposed.|
Use Edit columns button to customize what columns should be visible under Intangible Assets tab.
Clicking Edit columns button allows you to add additional columns to better suit your business requirements.
|Code||Code of Intangible Asset|
|Amortization rate||Amortization rate of Intangible Asset|
|Control account||If you are using multiple Control Accounts, this column can show which Control account this Intangible Asset belongs to.|